May 31, 2024 - Economy

Wall Street shrugs off Trump convictions

A shrugging emoji in a stock ticker

Illustration: Lazaro Gamio/Axios

Wall Street on Friday shrugged off Donald Trump's felony convictions.

The big picture: Investors know that November's election is a toss-up, thus creating uncertainty, but so far seem confident that they understand what a second term for either Biden or Trump would mean.

  • The economy performed well during both presidencies, outside of during the pandemic's early months, and stocks reacted favorably to both of their elections.

By the numbers: The S&P 500 was up 0.8% on Friday, while the Dow rose 1.5% and the Nasdaq was basically flat. In short, no massive moves.

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